Wells Fargo & Company Raises Citigroup (NYSE:C) Price Target to $95.00

Citigroup (NYSE:C) had its price objective hoisted by Wells Fargo & Company from $88.00 to $95.00 in a research report sent to investors on Tuesday, The Fly reports. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on C. Edward Jones lowered Citigroup from a buy rating to a hold rating in a research note on Monday, March 29th. Morgan Stanley upped their price objective on Citigroup from $81.00 to $89.00 and gave the company an overweight rating in a research note on Tuesday, April 13th. Jefferies Financial Group upped their price objective on Citigroup from $75.00 to $85.00 and gave the company a buy rating in a research note on Friday, April 9th. Wolfe Research lowered Citigroup from an outperform rating to a peer perform rating and set a $76.00 price objective on the stock. in a research note on Monday, April 5th. They noted that the move was a valuation call. Finally, Argus upped their price objective on Citigroup from $74.00 to $87.00 and gave the company a buy rating in a research note on Friday, April 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $76.70.

C opened at $76.89 on Tuesday. Citigroup has a 52-week low of $40.49 and a 52-week high of $80.29. The company has a market capitalization of $158.94 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.38 and a beta of 1.92. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $74.89.

Citigroup (NYSE:C) last released its earnings results on Wednesday, April 14th. The company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $1.02. Citigroup had a return on equity of 9.55% and a net margin of 20.27%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.34 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Citigroup’s revenue was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup will post 9.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Monday, May 3rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, April 30th. Citigroup’s dividend payout ratio is currently 41.80%.

Several hedge funds have recently modified their holdings of C. BlackRock Inc. lifted its stake in shares of Citigroup by 2.9% in the 1st quarter. BlackRock Inc. now owns 160,204,580 shares of the company’s stock valued at $11,654,883,000 after acquiring an additional 4,464,991 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Citigroup by 14.7% in the 4th quarter. Bank of New York Mellon Corp now owns 39,116,141 shares of the company’s stock valued at $2,411,901,000 after acquiring an additional 4,999,115 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Citigroup by 2.8% in the 1st quarter. Geode Capital Management LLC now owns 32,678,499 shares of the company’s stock valued at $2,370,947,000 after acquiring an additional 881,484 shares during the last quarter. Norges Bank bought a new position in Citigroup during the 4th quarter worth $1,832,503,000. Finally, Sanders Capital LLC raised its position in Citigroup by 0.7% during the 1st quarter. Sanders Capital LLC now owns 25,967,514 shares of the company’s stock worth $2,047,435,000 after purchasing an additional 181,520 shares during the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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